Geosan CEO claims, 'We face the crisis of bankruptcy owing to GS E&C's overuse of power'
Geosan CEO claims, 'We face the crisis of bankruptcy owing to GS E&C's overuse of power'
  • Jung Se-jin
  • 승인 2018.10.29 12:17
  • 댓글 0
이 기사를 공유합니다

GS Engineering & Construction (GS E&C) CEO Lim Byung-yong's management of the company is under fire. At the general inspection of the National Assembly's political affairs committee, Kwon Chul-soon, the head of Geosan Construction, testified about GS E&C's alleged overuse of its power. However, GS E&C CEO Lim claimed that it had no problem at all.

During a parliamentary inspection on Oct. 25, CEO Kwon said, "Geosan Construction with an annual sales of 10 billion won and over 100 employees is on the verge of collapse as GS E&C swindled 3.7 billion won in labor expenses, dealing a serious damage to Geosan."

However, CEO Lim strongly denied the allegation, explaining, "Geosan asserted that our company gave 40 percent to Geosan Construction with a 100 percent bid, but what is clear is that we received it from our customers."

However, the scandal has escalated as suspicions of unfair contract with another subcontractor, Constec, emerged.

Constec claimed, "We carried out the work by using conventional construction techniques, not the new method we initially proposed owing to GS E&C's unfair demand." Constec claims that its total damage amounts to 10 billion won.

GS E&C CEO Lim, however, asserted, "We had to use traditional methods because the new method eventually failed. As a result, GS E&C also suffered damages."

Attention is focusing on the future course of CEO Lim and GS E&C that directly denied the charges at the parliamentary inspection session.


댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • ABOUT
  • CONTACT US
  • SIGN UP MEMBERSHIP
  • RSS
  • 2-D 678, National Assembly-daero, 36-gil, Yeongdeungpo-gu, Seoul, Korea (Postal code: 07257)
  • URL: www.koreaittimes.com | Editorial Div: 82-2-578- 0434 / 82-10-2442-9446 | North America Dept: 070-7008-0005 | Email: info@koreaittimes.com
  • Publisher and Editor in Chief: Monica Younsoo Chung | Chief Editorial Writer: Hyoung Joong Kim | Editor: Yeon Jin Jung
  • Juvenile Protection Manager: Choul Woong Yeon
  • Masthead: Korea IT Times. Copyright(C) Korea IT Times, All rights reserved.
ND소프트